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55048-01 - Lecture: The Artificial Intelligence Economy: Business, Governance, and Society in the Age of Algorithms 3 CP

Semester spring semester 2020
Course frequency Irregular
Lecturers Stephen Weymouth (, Assessor)
Content We are entering an age of transformational technologies driven by artificial intelligence (AI). Advances in computer science and robotics create machines that can drive, diagnose, build, and “think”. AI promises new conveniences, more efficient production, and material and cultural bounty. Technology will also fundamentally change manufacturing processes and services delivery, potentially eliminating jobs and increasing inequality. These effects are likely to accelerate in response to the COVID-19 pandemic. Unless properly managed, the AI economy may create deep economic and political conflict between its beneficiaries and those left behind. Left unchecked, these divisions threaten crises to governance, global capitalism, and geopolitics.

This course surveys the AI economy and its potential implications for firms, governments, and society. We assess the emerging business tools and strategies relying on machine learning and other algorithms. We review recent developments in the economics of AI, with particular focus on which jobs AI will likely replace and the reasons why. We explore differences in AI deployment across countries and regions, and their implications for international economic relations between the US, China, and the EU. The course concludes with an exploration of the political and governance challenges that may arise from AI-induced unemployment and widening inequality, privacy concerns, and algorithmic biases. We evaluate policy proposals to forestall these threats to democratic governance.

The class meets for eight virtual sessions (via Zoom), which combine lecture, discussion, and student presentations. The class will be highly interactive and each student is expected to participate in each meeting. Successful contributions to the course require that you complete the readings prior to the session for which they are assigned.
Bibliography Baldwin, Richard. The Globotics Upheaval: Globalization, Robotics, and the Future of Work. Oxford University Press, 2019.

Lee, Kai-Fu. AI Superpowers: China, Silicon Valley, and the New World Order. Houghton Mifflin, 2018.
Please estimate a cost of $50 for the purchase of literature.
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Admission requirements Recommended Prerequisites:
Introduction to Economics (Einführung in die Volkswirtschaftslehre, 10130)
Globalization and European Integration (Globalisierung und europäische Integration, 34504)
Course application There will be an orientation for all Summer School courses an 19 February 2020, 6-7 pm in room S15, Economics Department.
All applications have to be processed through the Summer School office. Please fill in the application form, which can be found on the weblink:
Language of instruction English
Use of digital media Online course


Interval Weekday Time Room

No dates available. Please contact the lecturer.

Modules Electives Bachelor Business and Economics: Recommendations (Bachelor's Studies: Business and Economics)
Electives Bachelor Business and Economics: Recommendations (Bachelor's degree subject: Business and Economics)
Assessment format end-of-semester examination
Assessment details The grades are computed as follows:
Contribution to the class (individual): 30%
Presentations (group):40%
Short paper (group):30%

Assessment registration/deregistration Registration/deregistration: faculty
Repeat examination no repeat examination
Scale 1-6 0,1
Repeated registration as often as necessary
Responsible faculty Faculty of Business and Economics ,
Offered by Faculty of Business and Economics